For many people, having insurance is a necessity, as it gives them some peace of mind that they will be financially covered if an accident happens.
This peace of mind can be shattered, however, when it comes time to file a claim against a policy and deal with insurance companies. This is because insurers can become adversaries, rather than facilitators, when policyholders file claims because insurers are generally looking to protect their own profits by paying out as little as possible for claims.
In some cases, insurers can cross the line, practicing insurance bad faith to try to illegally get out of paying people what they deserve for their claims.
To help you understand when you may have been subjected to such illegal practices, below, we’ll discuss some common signs of insurance bad faith.
Signs of Insurance Bad Faith: What You Should Know
Prolonging claim investigations – Although insurance companies are required by law to conduct and conclude their claims investigations promptly (and fairly), companies that rely on bad faith practices can draw these investigations out unnecessarily, usually in an attempt to turn up the financial pressure on claimants. The intent is usually to make claimants so desperate for payouts that they will end up accepting less than they deserve when an offer is eventually made.
- Using odd “experts” or “evidence” – Some instances of insurance bad faith involve insurers relying on unconventional “experts/evidence” to support claim decisions. Examples can include using “experts” who are not certified in a specific field/who misinterpret evidence or relying on “evidence” that does not really pertain to the claim.
- Alleging a policy has lapsed – With this bad faith practice, insurers may try to flat out deny claims because a policyholder has allegedly missed a payment on a policy or the policy has allegedly lapsed for other reasons.
- Post-claim underwriting – This type of insurance bad faith practice involves changing the terms of an insurance policy after claims have been filed against the policy and without informing policyholders of the change(s).
The best way to combat these and other forms of insurance bad faith is to consult with an experienced lawyer who knows how to stand up to insurance companies and make them honor the contracts they have with policyholders.
Contact a Denver Personal Injury Attorney at the Klibaner Law Firm
If you have been subjected to insurance bad faith practices, a Denver personal injury attorney at the Klibaner Law Firm is here for you, ready to aggressively advocate your rights to help you obtain the compensation you deserve.
To learn more about your options and how we can help you, contact our firm today by calling us at (303) 863-1445 or emailing us using the contact form on this page. When you contact us:
- You will be able to discuss your case directly with one of our experienced attorneys.
- You will pay nothing for speaking with us
- We will answer your questions thoroughly, honestly, and confidentially.
From our offices based in Denver, our attorneys provide superior representation to injured people throughout the Denver metro area and Colorado.